As of May 9, 2025, mortgage rates have risen to around 6.80%, largely because of President Trump's new trade agreement with the United Kingdom. After briefly falling earlier this week, rates increased again as investors reacted positively to the economic prospects created by the trade deal. This optimism pushed up the yield on the 10-year Treasury bond, which generally guides the movement of mortgage rates. A typical 30-year fixed mortgage is now averaging about 6.83%, slightly higher than the previous week. Meanwhile, 15-year fixed mortgage rates have increased to about 6.01%. The Federal Reserve has continued to take a cautious stance, deciding to keep their interest rates steady so far in 2025.

Mortgage rates have risen to approximately 6.80% largely because of President Trump's recent announcement of a new trade deal with the United Kingdom. When the deal was announced, investors became more confident about future economic growth, causing the yield on 10-year Treasury bonds—a key factor influencing mortgage rates—to climb higher. Currently, the average 30-year fixed mortgage is at about 6.83%, slightly higher than last week's figures, and the 15-year fixed rate mortgage has increased to around 6.01%. This uptick in mortgage rates arrives during an uncertain economic time marked by continued worries about inflation, a possible global trade conflict, and fears of an upcoming recession. Despite these concerns, the Federal Reserve has decided to keep interest rates unchanged so far this year.

Mortgage rates have risen as economic uncertainty continues, making it harder to buy affordable homes. This week saw 30-year fixed mortgage rates climb to 6.83%, up slightly from last week, while 15-year fixed rates rose to 6.01%. Experts point to ongoing inflation, fears of recession, and worries about international trade affecting the economy. The Federal Reserve, which decides interest rate policies, has not made any rate changes this year after cutting rates three times last year, showing a cautious approach to managing economic risks.

On May 9, 2025, mortgage rates in the United States increased to an average of 6.80% for a 30-year fixed-rate loan following President Donald Trump's announcement of a trade agreement with the United Kingdom. Investors saw this agreement as a positive sign that the U.S. economy might avoid a potential recession, leading to increased optimism across financial markets. As a result, yields on the 10-year Treasury notes, which directly affect mortgage rates, rose—making home loans more expensive for homebuyers. However, this rise comes at a time when Americans are already struggling with high inflation, steep housing prices, and limited homes for sale, creating even greater challenges for those looking to purchase a home.

U.S. mortgage rates went up today, hitting an average of 6.80% for a 30-year fixed loan. This jump happened after President Donald Trump revealed a new trade agreement with the United Kingdom, which made investors feel positive about the economy. As investors showed more optimism, it drove up the return on the 10-year Treasury bond—an important factor influencing mortgage rates. Although this development has lessened worries about a recession in the near future, it also means borrowing money for a home just became more costly for homebuyers, at least for the short term.